Ninjastic
PostEdited versionsQuotes to this post
Post
Topic
Board Economics
Re: The value of bitcoin?
by
Bustart
on 04/07/2018, 08:35:29 UTC
Quote from: 3la9l_kolbaCa on July 04, 2018, 08:22:29 AM
Quote from: Chienna on July 04, 2018, 02:05:10 AM
Quote from: Don Pedro Dinero on October 04, 2017, 06:54:49 PM
Quote from: LeGaulois on October 04, 2017, 06:00:33 PM
If the gold value was based on what it takes to mine it then the price wouldn't be so high. After all, they use slave children to mine and pay the families peanuts. There are several but the most significant parameter is the quotation established by the "fixing".

If the volatility is not something that people can handle then the cryptocurrency market is certainly not for them. Because there is not a lot much more volatile than cryptos

I agree. The problem here is that we can see what the price is whereas value is more of a concept that we don’t have an algorism to calculate. Anyway, if we don’t take into account offer and demand we can’t explain the value of bitcoin as well as many other assets and goods.

Adam Smith was right in some of his opinions and wrong in others, but we can’t take his opinions as dogmas of the Church.

What is the cost of labor involved in making a 100$ note? It is more or less the same as the cost of labor involved in making a 1$ note.


They say that the value of bitcoin comes low last year. But for me, the price of the bitcoin is hard to predict. Bitcoin gave us a lot of benefits that's why many people patronize it. The value of bitcoin is changeable so for us, the users, we need to cooperate when it comes to the value as I said it's gard to predict.
Exactly! It's hard to predict when high is high and when low is low, it's very uncertain. It can be very challenging to deal volatility, it's important that we learn to embrace its nature, its essence, and how it could be a great help to change standard of living. It takes strong willingness and patience to succeed and survive in the field. Despite price correction, I still trust and believe that bitcoin has the potential to recover and grow.
The value of bitcoin whether it rises or fall, both open opportunitues that can be very advantageous. When price drops, it's the appropriate time to buy more coins, hold, and sell high. It's very important that we keep on learning and be informed to broaden knowledge and awareness. Moreover, we should learn to realize that price movement is normal, the decline in price is temporary, and panic does not lead to productivity.